Details of the newincome tax treaty between Australia and Japan, signed on 31 January 2008, have become available. The treaty was concluded in the Japanese and English languages, each text having equal authenticity. Once in force, the new treaty will replace the Japan-Australia income tax treaty of 20 March 1969. The revised treaty acknowledges the importance of Japan as not only the largest export market for Australia, but also as a third largest investor into Australia. The treaty generally follows the OECD Model Convention. Withholding tax rates are reduced as follows: -   no dividend withholding tax on dividend payments...